Banking: Page 60
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Permission granted by Stripe
Stripe's valuation slashed as fintech rout continues
The company told employees Friday that its internal share price had fallen 27% to $29 from $40, The Wall Street Journal reported, citing unnamed sources.
By Jonathan Berr • July 15, 2022 -
Win McNamee via Getty Images
CFPB's Chopra reminds payments players they're in his sights
In a blog post this week, the director reiterated that payments processors, credit card issuers and debt collectors are attracting scrutiny from his agency.
By Lynne Marek • July 14, 2022 -
Explore the Trendline➔
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TrendlineTop 5 stories from Payments Dive
The digital evolution of payments is roiling the industry, forcing companies to rethink pricing schemes and revamp corporate strategies. Embedded payments, earned wage access, real-time systems and other innovations will transform the business.
By Payments Dive staff -
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Deep DiveFedNow chases real-time payments front-runners
The Federal Reserve plans to unleash a U.S. real-time payments system next year in the form of FedNow, but it’s an open question as to whether, or how, consumers and businesses will adopt instant payments.
By Lynne Marek • July 14, 2022 -
SARINYAPINNGAM via Getty Images
Venture dollars for fintech drop, again
Fintech companies raised $20.4 billion over 1,225 deals in the quarter, the lowest number of deals and funding since the fourth quarter of 2020.
By Jonathan Berr • July 13, 2022 -
Permission granted by Terry Banks
OpinionBanks and fintechs don't need to fight
“Rather than competing with one another, banks and fintechs are increasingly partnering,” writes Modern Treasury CEO Dimitri Dadiomov.
By Dimitri Dadiomov • July 12, 2022 -
Retrieved from Kaitlyn Fitzgerald, a spokesperson for Charlie Youakim on January 24, 2022
Zip ditches Sezzle BNPL buyout
The Australian company will pay $11 million to Sezzle after it dropped a plan to purchase the Minneapolis-based company in the face of “macroeconomic and market conditions.”
By Lynne Marek • July 12, 2022 -
ijeab via Getty Images
Mesh Payments pursues $50M in debt financing to support growth
The corporate spend management startup, which has raised $63 million in capital, is trying to balance “growing too fast and making sure we are not under-servicing our clients,” said CEO Oded Zehavi.
By Caitlin Mullen • July 12, 2022 -
Drew Angerer via Getty Images
Brainard urges more oversight of crypto
The Federal Reserve vice chair on Friday said the May collapse of the Terra stablecoin, which wiped out millions of dollars of value in a matter of days, was “reminiscent of classic runs throughout history.”
By Anna Hrushka • July 11, 2022 -
Chris Hondros via Getty Images
Banks aren't doing enough to address Zelle fraud, senators say
Months after writing the CEO of Zelle’s parent company, Sens. Bob Menendez and Elizabeth Warren — with six other lawmakers signing on — are seeking information from seven banks with ownership stakes in the platform.
By Anna Hrushka • July 11, 2022 -
Techa Tungateja via Getty Images
Fintech Philanthropi taps into giving surge
The startup, which channels charitable payments, is targeting financial services partners as it seeks to grow, potentially with a new capital infusion this year.
By Caitlin Mullen • July 8, 2022 -
Retrieved from Lynne Marek on March 04, 2022
Wyre ties to new MoneyGram crypto-cash services
The crypto payment company that partners with digital wallet providers said it’s providing its 15 million end-users worldwide with the ability to load or cash out of digital currencies.
By Tatiana Walk-Morris • July 6, 2022 -
bernie_photo via Getty Images
Plastiq sees inflation boosting B2B card payment use
As companies grapple with inflation and supply chain snarls, the business payments firm says it’s targeting those that need credit cards for workflow capital.
By Caitlin Mullen • July 5, 2022 -
Retrieved from Novi on May 27, 2020
Meta to shutter Novi digital currency project Sept. 1
The company’s website tells users how to withdraw funds and access transaction data that they’ll lose access to once the Novi pilot ends. Meta, however, said it plans to use Novi’s technology in future projects.
By Dan Ennis • July 5, 2022 -
Win McNamee/Staff via Getty Images
Congress takes on 'bro culture' in fintech
A congressional task force this week heard from fintech founders and venture capitalists about persistent inequities in funding for female- and minority-founded startups.
By Lynne Marek • July 1, 2022 -
Retrieved from Outside spokesperson Daniel Gerardi on March 29, 2022
OpinionFrom a payments CEO: 5 discriminatory behaviors that need to go
“Until the industry addresses this blatant lack of advocacy for women in leadership, it will continue to foster a culture where women can’t thrive,” says Stax CEO Suneera Madhani.
By Suneera Madhani • June 30, 2022 -
Vaidik Trivedi
PayPal hit with Venmo fraud lawsuit
Yet another lawsuit related to alleged fraud on a peer-to-peer payment app targets digital payments company PayPal.
By Caitlin Mullen • June 30, 2022 -
CFPB strikes at debt collector fees
In the federal agency's crusade against “junk fees," debt collectors’ fees for certain payments are now in its sights.
By Jonathan Berr • June 30, 2022 -
Courtesy of https://corporate.walmart.com/photos/walmart-store-exterior-at-night
FTC sues Walmart over money transfer services
The federal agency said Tuesday that the big retailer allowed money transfer fraud that “fleeced customers out of hundreds of millions of dollars.”
By Lynne Marek • June 29, 2022 -
Chainarong Prasertthai via Getty Images
Fintech Amount cuts about 18% of workforce
The Chicago-based banking technology provider, valued at $1 billion last year, said this week it had pared 108 workers in what the company called “proactive adjustments.”
By Caitlin Mullen • June 28, 2022 -
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PayPal launches small business credit card
The digital payments company is targeting small business owners as they seek credit financing and loans.
By Tatiana Walk-Morris • June 28, 2022 -
Steve Jennings via Getty Images
Brex's move has fellow fintechs ready to pounce
Brex cutting small business customers — the handling of which prompted a mea culpa from the co-founder — may provide opportunity for B2B fintechs like Ramp or Divvy. But big banks still dominate the space.
By Caitlin Mullen • June 27, 2022 -
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Alviere sets sights on Europe, Latam expansion
Embedded payments player Alviere has raised money from Silicon Valley Bank to support expansion in Europe and Latin America, following the hiring of a pack of new executives.
By Tatiana Walk-Morris • June 24, 2022 -
Sean Gallup via Getty Images
PayPal changes up its pricing
In a move that could increase or decrease charges for merchants, the company said it aims to better distinguish between personal and commercial payments on its system.
By Lynne Marek • June 24, 2022 -
CFPB takes aim at card late fees
The Consumer Financial Protection Bureau seems to think credit card late fees are out of control. Now, it plans to do something about it.
By Lynne Marek • June 23, 2022 -
Courtesy of Mastercard
Mastercard expands sonic branding with 'Priceless' album
The multi-artist album, a first-time marketing move by the card company, features original songs that incorporate Mastercard’s brand sound.
By Chris Kelly • June 22, 2022
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